Homework: Week 3 Chapter 04 exercises Save Score: 0 of 1 pt 8 of 8 (0 complete) HW Score: 0%, 0 of 8 pts E4-22 (similar to) E Question Help Hill Insurance Agency started the year with a beginning capital balance of $30,000. During the year, Hill earned $41,000 of Service Revenue and incurred $25,500 of various expenses. Steve Hill withdrew $7,000 from the business. After the closing entries are recorded and posted, what ill be the balance of Hill, Capital? Post the beginning balance and closing entry amounts to the Capital account. Use a "Bal posting reference to show the beginning and ending balance of the Capital account. Use a "Clos."posting reference to show the amounts that are posted while closing the books. The revenue and expense amounts should be combined into one closing entry for net income (like you are closing the Income Summary account) Hill, Capital